Inflation in the US dropped to its lowest level in two years last month as a result of lower prices for milk, new vehicles, and airline tickets.

According to official statistics, the rate of inflation in the 12 months leading up to April was 4.9%.

This was the eighth month in a row that price increases have slowed down, down from 5% in March.

The decline follows a substantial increase in interest rates by the US central bank in an effort to curb inflation.

The US had its greatest level of inflation since 1981 in June of last year, when it reached 9.1%.

But officials have hesitated to declare victory, as a problem that once seemed contained to particular sectors - such as energy and manufactured goods - has spread throughout the economy.

Housing, petrol and used car prices all jumped from March to April. The cost of haircuts, veterinary visits and gardening services also climbed.

And though no longer soaring, overall prices continue to rise far more quickly than the 2% rate the Federal Reserve considers healthy.

The Federal Reserve has raised interest rates 10 times since last March, bringing them to the highest levels since 2007.

The moves are intended to discourage people from borrowing, leading economic activity to slow and easing the pressures that are pushing up prices.

The head of the Federal Reserve, Jerome Powell, signalled this month that officials believe they may have done enough to get inflation under control and could be ready to pause their programme of rate rises.